Published on 12/21/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.32 million autocallable contingent interest notes on indexes, ETF
New York, Dec. 21 – JPMorgan Chase Financial Co. LLC priced $2.32 million of autocallable contingent interest notes due June 21, 2024 linked to the Financial Select Sector SPDR Fund, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing level of each underlier is greater than or equal to its initial level on any monthly review date starting March 15, 2023.
At maturity, the payout will be par unless the worst performing asset finishes below its 60% trigger level, in which case investors will be fully exposed to the decline of the worst performing asset.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying assets: | Financial Select Sector SPDR Fund, Nasdaq-100 index and S&P 500 index
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Amount: | $2,318,000
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Maturity: | June 21, 2024
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Coupon: | 13%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing asset finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing asset
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Call: | Automatically at par if the closing level of each underlier is greater than or equal to its initial level on any monthly review date starting March 15, 2023
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Initial levels: | $33.96 for Financial Select Sector SPDR Fund, 11,345.22 for Nasdaq-100, 3,895.75 for S&P 500
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Trigger levels: | $20.376 for Financial Select Sector SPDR Fund, 6,807.132 for Nasdaq-100, 2,337.45 for S&P 500, 60% of initial level
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Coupon barriers: | $23.772 for Financial Select Sector SPDR Fund, 7,941.654 for Nasdaq-100, 2,727.025 for S&P 500, 70% of initial levels
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Pricing date: | Dec. 15
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Settlement date: | Dec. 20
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.6501%
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Cusip: | 48133PZT3
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